Amount and Terms of Commitments Sample Clauses
The "Amount and Terms of Commitments" clause defines the specific financial obligations and conditions that parties agree to under a contract, such as the total amount to be provided, payment schedules, and any related requirements. This clause typically outlines how much each party is committing, the timing and method of contributions or payments, and any conditions precedent to funding. Its core practical function is to ensure all parties have a clear understanding of their financial responsibilities, thereby reducing the risk of disputes over payment terms or funding obligations.
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Amount and Terms of Commitments. (a) Subject to the terms and conditions set forth in this Agreement, each Lender severally agrees to make, Convert and Continue Loans in Dollars until, but not including, the Maturity Date in such amounts as Borrower may from time to time request; provided, however, that (i) the Outstanding Obligations of each Lender shall not exceed such Lender's Commitment at any time, and (ii) the Outstanding Obligations of all Lenders shall not exceed the combined Commitments at any time. This is a revolving credit and, subject to the foregoing and the other terms and conditions hereof (including Section 2.10(d)), Borrower may borrow, Convert, Continue, prepay and reborrow Loans as set forth herein without premium or penalty.
(b) Upon the request of any Lender made through Administrative Agent, a Lender's Loans may be evidenced by a Note, instead of or in addition to its loan accounts or records. Each such Lender may attach schedules to its Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. Any failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation of Borrower to pay any amount owing with respect to the Obligations.
(i) Administrative Agent shall maintain, at Administrative Agent's Office, a register for the recordation of the names and addresses of Lenders and the Commitments and Extensions of Credit of each Lender from time to time (the "Register"). The Register shall be available for inspection by Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice. Administrative Agent shall maintain the Register, acting, solely for this administrative purpose only, as agent for Borrower (it being acknowledged and agreed that Administrative Agent and each Administrative Agent-Related Person, in such capacity, shall constitute Indemnitees under Section 10.13).
(ii) Administrative Agent shall record in the Register the Commitment and Extensions of Credit from time to time of each Lender, and each repayment or prepayment in respect thereof. Any recordation shall be conclusive and binding on Borrower and each Lender, absent manifest error; provided, however, that the failure to make any such recordation, or any error in such recordation, shall not affect any Lender's Commitment or Outstanding Obligations.
(iii) Each Lender shall record on its internal loan accounts or records (and may record on the Note held by such Lender) the amount of e...
Amount and Terms of Commitments. 2.1 [Reserved].
2.2 [Reserved].
2.3 [Reserved].
Amount and Terms of Commitments. 13 2.1 Purchases..........................................................13 2.2 Reductions and Extensions of Commitments...........................16 2.3 Interest, Fees, Expenses, Payments, Etc............................17 2.4
Amount and Terms of Commitments. 2.1 TERM COMMITMENTS; PROCEDURE FOR TERM LOAN BORROWING.
(a) Subject to the terms and conditions hereof, each Term Lender severally agrees to make a term loan (a "TERM LOAN") to the U.S. Borrowers on the Closing Date in an amount not to exceed the amount of the Term Commitment of such Term Lender. The Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by NSP and notified to the Administrative Agent in accordance with Sections 2.1(b) and 2.10.
(b) NSP shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 P.M., New York City time, one Business Day prior to the anticipated Closing Date) requesting that the Term Lenders make the Term Loans on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans, and, unless otherwise agreed by the Administrative Agent in its sole discretion, no Term Loan may be made as, converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the date that is the earlier of (x) 10 days after the Closing Date and (y) the date the Administrative Agent and the Syndication Agent notify NSP that the syndication of the Loans has closed, PROVIDED that, during the 10-day period described in the foregoing clause (x), NSP may (anything in the definition of the term "Interest Period" to the contrary notwithstanding) select Interest Periods that end on or before the last day of such 10-day period so long as Interest Periods of the selected length are available to all Term Lenders. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date each Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender, PROVIDED, HOWEVER, that, in the case of any Term Lender which is an Existing Lender, such Term Lender shall only be required so to make available to the Administrative Agent an amount equal to the excess, if any, of its Term Commitment over its Term Loan outstanding under the Existing Credit Agreement and it shall be entitled to credit such existing Term Loan against its obligation to make its Term Loan under its Term Loan Commitment. The Administrative Agent shall transfer to the account of the Bor...
Amount and Terms of Commitments. 16 2.1 Commitments.............................................. 16 2.2
Amount and Terms of Commitments. 24 2.1 Revolving Credit Commitments................................24 2.2 Revolving Credit Notes......................................25 2.3 Procedure for Revolving Credit Borrowing....................25 2.4 Commitment Fee; Administrative Fee..........................26 2.5 Termination or Reduction of Revolving Credit Commitments....
Amount and Terms of Commitments. 2.1 Tranche B Term Loan Commitments. Subject to the terms and ------------------------------- conditions hereof, each Tranche B Term Loan Lender severally agrees to make a term loan (a "Tranche B Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Tranche B Term Loan Commitment of such Lender. The Tranche B Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.11.
Amount and Terms of Commitments. 2.1 Term Loan Commitments; Revolving Credit commitments.
(a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8.
(b) Subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make revolving credit loans ("Revolving Credit Loans") to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding which does not exceed the amount of such Lender's Revolving Credit Commitment. During the Revolving Credit Commitment Period the Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Credit Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.8, provided that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Revolving Credit Termination Date.
Amount and Terms of Commitments. 2.1 Revolving Commitments. Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans in Dollars (“Revolving Loans”) to theany Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, does not exceed the amount of such Lender’s Revolving Commitment; provided, that no Lender shall make Revolving Loans to theany Borrower during the Suspension Period. During the Revolving Commitment Period the BorrowerBorrowers may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the applicable Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.7. Notwithstanding anything to the contrary in this Agreement, in no event shall the Total Revolving Extensions of Credit exceed the Maximum Permitted Outstanding Amount.
Amount and Terms of Commitments. Revolving Commitments.
(a) Subject to the terms and conditions hereof, each Lender which has a Revolving Commitment severally agrees to make revolving credit loans denominated in Dollars (“Dollar Revolving Loans”) to the Borrower or any Foreign Subsidiary Borrower (other than the French Subsidiary) from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Revolving Percentage of the sum of the other Outstanding Revolving Extensions of Credit (excluding any Outstanding French Party Extensions of Credit), does not exceed the amount of such Lender’s Revolving Commitment. During the Revolving Commitment Period, the Borrower or any Foreign Subsidiary Borrower (other than the French Subsidiary) may use the Revolving Commitments by borrowing, prepaying the Dollar Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Dollar Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 or 2.9.
(a) The Borrower and each Foreign Subsidiary Borrower shall repay all outstanding Dollar Revolving Loans on the Revolving Termination Date.
(b) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees, from time to time during the Revolving Commitment Period, to make revolving credit loans denominated in one or more Foreign Currencies (the “Multicurrency Revolving Loans”) to the Borrower or any of the Foreign Subsidiary Borrowers, other than the French Subsidiary, which French subsidiary, for the avoidance of doubt, may not request nor obtain Multicurrency Revolving Loans, in an aggregate principal amount (based on the Dollar Equivalent of such Multicurrency Revolving Loans) at any one time outstanding which (a) when added to such Multicurrency Lender’s Multicurrency Revolving Percentage of the other Multicurrency Revolving Extensions of Credit, shall not exceed such Multicurrency Lender’s Multicurrency Revolving Subcommitment and (b) when added to such Lender’s Revolving Percentage of the other Outstanding Revolving Extensions of Credit, excluding any Outstanding French Party Extensions of Credit, shall not exceed such Lender’s Revolving Commitment. Neither Borrower nor any Foreign Subsidiary Borrower shall request and no Multicurrency Lender shall be required to make any Multicur...